[GNC] Question about transfers

[Michael or Penny Novack]

On 4/22/2022 6:24 PM, Brad wrote:
> .......but I need an even number
> of entries to follow double-entry accounting rules.  Two entries to
> transfer the funds from one account to another, and then one to show
> the funds going to the property tax expense.  Oh, and I guess two more
> when I write the check to the county.
> Thanks.
> Brad
>
Using "entry" may be causing confusion.. Let's work in reverse:

a) Writing check to county ----- That transaction has a debit of "real 
estate tax" (expense) and credit "checking account" (asset)

b) Transferring from savings to checking -- That transaction has a debit 
of "checking account" and a credit of "savings account"

Now let's discuss this other tracking you want to do, making sure you 
have enough transferred. WHERE did you have that amount recorded (in 
what account) and how did it get there? Do not confuse "budget" with 
"actual". The transactions described in "a" and "b" are actuals.

Michael D Novack